Improve manufacturing for FDI
A study by the Export-Import Bank of India has called for a greater focus on monitoring and addressing glitches which prevent the successful implementation of the Government’s policies to promote exports and build a better operational environment.
The study, ‘Domestic Constraints for Exports in Select Sectors’, identifies sector specific policy initiatives that could improve operational conditions and efficiency of exporters in these sectors. The study also identifies policies for engendering global export hubs in the country for various products.
It analyses the current domestic policy constraints faced by the Indian exporters in select sectors viz., gems and jewellery, auto and auto-components, electronics (with focus on mobile phones), textiles and clothing, and pharmaceuticals.
The study was released at the post-India EXIM Bank webinar on 3 Oct 2020, covering policy recommendations to make India an export hub.
It also highlighted that the pandemic has brought opportunities for the country to build resilient supply chains in the country.
“We can encourage foreign investments by improving the policy landscape for manufacturing and exports,” said David Rasquinha, India Exim Bank Managing Director.
“At present, the manufacturing sector in our country is indicative of underlying inertia. This is despite the strong and growing private consumption demand in the country.
“Push to manufacturing could leverage demographic dividends, spurt economic growth and achieve the target of US$5 trillion economy by 2024-25,” he said.
The study analyses policy constraints to help improve operational conditions for exporters, for engineering global export hubs in the country. It is based on empirical realities and gives insights from the ground. #exports #manufacturing #investment #banks #pandemic /fiinews.com
